The degree of tax avoidance by the super rich has been revealed after figures released by the Treasury.
The findings show that nearly 1,000 British taxpayers who earn over £1 million per year are paying less than 30 percent of their income in tax.
It was also revealed that there are 12 taxpayers earning over £10 million per year who are paying less than 10 percent in tax.
This is the first time that such comprehensive figures regarding the UK’s wealthy have been publicised by the Treasury.
Tax avoidance – A Treasury spokesperson said: “There are currently millionaires paying a lower rate than ordinary taxpayers. This is the system we have at the moment, but the government is committed to making it fairer.
“We’re capping benefits and these figures clearly show why it’s fair to cap tax reliefs for the wealthy as well.”